Royal Bank Of Canada Issues Pessimistic Forecast for Northern Oil and Gas (NYSE:NOG) Stock Price

Northern Oil and Gas (NYSE:NOG) had its price objective reduced by research analysts at Royal Bank Of Canada from $34.00 to $33.00 in a report issued on Monday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price target would suggest a potential upside of 17.79% from the company’s previous close.

NOG has been the topic of several other reports. Bank of America lifted their price objective on shares of Northern Oil and Gas from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, May 23rd. Morgan Stanley lowered their price objective on shares of Northern Oil and Gas from $43.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 27th. Mizuho lowered their price objective on shares of Northern Oil and Gas from $35.00 to $33.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 13th. Raymond James Financial reiterated a “strong-buy” rating on shares of Northern Oil and Gas in a research report on Tuesday, May 13th. Finally, Citigroup lifted their price objective on shares of Northern Oil and Gas from $34.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Northern Oil and Gas presently has a consensus rating of “Hold” and an average target price of $38.78.

Northern Oil and Gas Stock Performance

Shares of NOG stock opened at $28.02 on Monday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.92 and a current ratio of 0.92. The company’s 50-day simple moving average is $28.99 and its 200-day simple moving average is $30.61. Northern Oil and Gas has a one year low of $19.88 and a one year high of $44.31. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of 4.36 and a beta of 1.50.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.12 by $0.21. Northern Oil and Gas had a net margin of 26.64% and a return on equity of 23.46%. The company had revenue of $602.10 million for the quarter, compared to analyst estimates of $568.87 million. During the same quarter last year, the business earned $1.28 earnings per share. Northern Oil and Gas’s revenue was up 51.9% compared to the same quarter last year. Equities analysts anticipate that Northern Oil and Gas will post 5.18 earnings per share for the current fiscal year.

Institutional Trading of Northern Oil and Gas

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue boosted its position in Northern Oil and Gas by 25.3% in the first quarter. State of Alaska Department of Revenue now owns 97,025 shares of the company’s stock valued at $2,932,000 after buying an additional 19,586 shares in the last quarter. Principal Financial Group Inc. grew its position in Northern Oil and Gas by 2.6% in the first quarter. Principal Financial Group Inc. now owns 494,508 shares of the company’s stock valued at $14,949,000 after purchasing an additional 12,711 shares in the last quarter. Woodline Partners LP bought a new position in Northern Oil and Gas in the fourth quarter valued at $997,000. GAMMA Investing LLC grew its position in Northern Oil and Gas by 2,067.5% in the first quarter. GAMMA Investing LLC now owns 45,950 shares of the company’s stock valued at $1,520,000 after purchasing an additional 43,830 shares in the last quarter. Finally, American Century Companies Inc. grew its position in Northern Oil and Gas by 3.9% in the fourth quarter. American Century Companies Inc. now owns 6,537,596 shares of the company’s stock valued at $242,937,000 after purchasing an additional 243,531 shares in the last quarter. Institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Company Profile

Northern Oil and Gas, Inc, an independent energy company, engages in the acquisition, exploration, exploitation, development, and production of crude oil and natural gas properties in the United States. It primarily holds interests in the Williston Basin, the Appalachian Basin, and the Permian Basin in the United States.